Brokerages Set The PNC Financial Services Group, Inc (NYSE:PNC) Price Target at $265.48

Shares of The PNC Financial Services Group, Inc (NYSE:PNC) have been assigned a consensus rating of “Moderate Buy” from the twenty-two analysts that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $265.7250.

PNC has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on The PNC Financial Services Group from $270.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Truist Financial lifted their target price on The PNC Financial Services Group from $257.00 to $264.00 and gave the stock a “hold” rating in a report on Thursday, July 16th. Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft lowered shares of The PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $265.00 price target on the stock. in a research report on Thursday, July 23rd. Finally, Citigroup lifted their price objective on shares of The PNC Financial Services Group from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Monday, July 20th.

The PNC Financial Services Group Trading Up 0.1%

PNC stock opened at $250.21 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.85 and a quick ratio of 0.84. The company has a fifty day moving average price of $240.24 and a two-hundred day moving average price of $226.08. The PNC Financial Services Group has a one year low of $176.88 and a one year high of $256.49. The stock has a market cap of $100.48 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 EPS for the quarter, beating the consensus estimate of $4.46 by $0.39. The firm had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $6.51 billion. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The company’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.85 earnings per share. Equities analysts anticipate that The PNC Financial Services Group will post 19.25 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be given a dividend of $2.00 per share. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. This represents a $8.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Monday, July 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 44.03%.

Insiders Place Their Bets

In other news, Director Andrew T. Feldstein sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the transaction, the director directly owned 10,749 shares in the company, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Duane Thomas sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $238.14, for a total transaction of $357,210.00. Following the transaction, the executive vice president owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. This represents a 22.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,300 shares of company stock worth $10,694,574 in the last 90 days. Company insiders own 0.38% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

Institutional investors and hedge funds have recently modified their holdings of the business. Monetary Solutions Ltd acquired a new position in The PNC Financial Services Group during the fourth quarter worth about $25,000. Quarry LP bought a new position in shares of The PNC Financial Services Group in the third quarter worth about $25,000. Modus Advisors LLC acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $29,000. Financial Life Planners bought a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at approximately $31,000. Finally, Wilkerson Advisory Group LLC increased its position in The PNC Financial Services Group by 93.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 71 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.